PROCESS. 13. A farm which cost $65 per acre was sold at a gain of 15%. For how much did it sell per acre? 14. A merchant bought 3950 yards of cotton at 91 cents a yard. How much will he get for it if he sells it at a gain of 121%? 15. A merchant desires to mark goods that cost him $3.60 per yard so that he may gain 331%. At what price must the goods be marked ? 16. A bankrupt stock was sold at 35% loss. What was the selling price of articles that cost 50c. ? $1? $1.50? $1.75? 17. What per cent. is lost by selling sugar at 10 cents per pound which cost 12 cents per pound ? ANALYSIS. -- Since sugar that cost 12 $.12-$.10 =$.02 cents was sold for 10 cents, there was a loss of 2 cents per pound. And since the $.02 :-$.12=164% gain or loss is reckoned at a rate per cent. Loss : Cost · Rate. on the cost, we must find what per cent. 2 is of 12. 2 is į of 12; or, expressed as hundredths, is .163 of 12, or 163%. 18. What per cent. 'is gained by selling tea at $1 which cost $.75 ? 19. What per cent. is lost by selling tea at $.75 which cost $1 ? 20. What per cent. is lost by selling cloth at $1.25 that cost $1.75? 21. Bought goods at 50 cents a yard and sold them at 60 cents a yard. What per cent. did I gain? 22. Goods that are selling at 124 cents a yard cost 10 cents. What per cent. is gained by selling them at that rate? 23. A man bought a city lot for $4500 and sold it for $5000. What per cent. did he gain? 24. Sold a quantity of potatoes for $850 which cost me $970. What per cent. did I lose? 25. Bought a quantity of crude petroleum at 5 cents per gallon and sold it at 47 cents. What per cent. did I lose ? 26. A fruiterer bought 10 boxes oranges at $1.75 per box. Two of the boxes were worthless, but he sold the balance at such price that he gained 5% on the whole purchase. How much did he sell them for per box? How much did he gain on the purchase ? 27. I bought books at 10% discount from the retail price, which was $1.50 per volume, and sold them at the retail price. What was my gain per cent. ? 28. An agent gets a discount of 40% from the retail price of articles and sells them at the retail price. What is his gain per cent. ? 29. A merchant bought cloth at $3.25 per yard, and after keeping it 6 months sold it at $3.75 per yard. What was his gain per cent., reckoning 6% per annum for the use of money? 30. Which is more profitable, and how much per cent., to sell goods for cash, at once, at 25% advance, or in 1 year at 30% advance, money being worth 7%? 31. Mr. A. gets a discount of 30% from the retail or list price of goods. Mr. B. gets a discount of 30% also, and 5% off for cash. If both sell goods at the list price, what is each one's gain per cent. ? 32. A merchant bought tea at 20% less than its market value, and received a discount of 5% for cash. He sold it at an advance of 15% above its market value. What was his gain per cent. ? 33. By selling cloth at a gain of 12 cents a yard, I realized a gain of 8% on the cost. What was the cost ? ANALYSIS.-Since the gain, 12 cents, is $.12: .08=$1.50. 8%, or too of the cost, šof 12 cents, or 11 cents, is ido of the cost, and the cost is Gain : Rate Cost 100 times 1) cents, or $1.50. PROCESS. was 34. I make 10% by selling tea at a profit of 10 cents a pound. What did it cost me? What do I sell it for? 35. Flour was sold at a profit of $1.50 per bbl., which 163% of the cost. What was the cost? 36. A merchant made 12% by selling cloth at an advance of 12 cents a yard. What did it cost? 37. By selling butter at 8 cents a pound more than cost, a grocer made 20%. What did he pay for it? 38. A merchant sold cloth which was damaged by fire, at a sacrifice of 22 cents per yard, which was 40% of the cost. What did the goods cost? 39. A farmer sold a yoke of cattle, to which he had fed $10 worth of grain, at an advance of $25, and still realized a profit of 15%. What did they cost? 40. A man sold a horse at an advance of $75, which was a gain of 25%. What was the cost of the horse ? 41. If I sell a quantity of apples at an advance of 25 cents a barrel, and thereby realize 121% profit, what was the cost? 42. By selling cloth at a gain of 23 cents per yard, I realize a profit of 20%. What did it cost? 43. A merchant asked 25% more for his goods than they cost him, but at last sold them at a reduction of 10% from his asking price, thus realizing from the sale $4684 profit. What was the cost of the goods ? 44. A gentleman sold a horse for $180 and gained 20% on him. What did the horse cost ? ANALYSIS.-Since 20% of 100% + 20%=120% the cost was gained, the sell ing price must have been 20% $ 180:1.20 $ 150 more than the cost, or 120% Selling Price :-(1+Rate)=Cost. of the cost. And, since 120% of the cost is $180, 1% of the cost is ało of $180, or, $1.50, and the whole cost is 100 times $1.50, or $150. Therefore the horse cost the gentleman $150. PROCESS. PROCESS. 45. A gentleman sold a carriage for $230, and thereby lost 8% of the cost. What was the cost? ANALYSIS.-Since 8% of the 100%-8%=92% cost was lost, the selling price must have been 8% less than $2307.92=$250 the cost, or 92% of the cost. Selling Price =(1-Rate)=Cost. And, since 92% of the cost was $230, 1% of the cost was og of $230, or $2.50, and the whole cost was 100 times $2.50, or $250. 17 46. By selling apples at $.50 per bushel a grocer gained 25% on the cost. What was the cost? 47. A farm was sold for $38000, which was a loss of 5% of the cost. What was the cost? 48. A block of stores was sold for $185000, which was a gain of 15%. What did they cost? 49. A merchant lost 5% by selling calico at 9 cents a yard. What did it cost? 50. A bankrupt stock was sold for $3582, which was a loss of 331%. What did it cost? 51. By selling molasses at 65 cents a gallon, a grocer gained 30%. What was its cost? 52. A man was compelled to sell his household furniture 53. A boot and shoe dealer lost 9% by selling boots at What did he pay for it? 56. Coal was sold at $4.561 per ton, which was a loss of 57. When pork is selling at $4.50 per hundred-weight I lose 10%. What will be my gain per cent. if I sell at $6 per hundred-weight? ream. COMMISSION. 380. 1. If a man sells $500 worth of goods for me, how much will he receive if he gets 2% of the sales ? 2. If I allow a man 2% for purchasing $3000 worth of silks for me, how much will he get for his services ? 3. If I collect a debt of $350, and charge 4% of the amount for my services, how much will I receive? 4. Mr. B. paid his agent 5% for selling $3000 worth of cotton. How much did he pay him, or what was his commission? 5. At 3% commission, how much will A receive for selling $4200 worth of flour? How much will be left after paying the commission, or what will be the net proceeds ? 6. If I pay 2% commission for buying goods, what is the cost of every dollar's worth of goods bought? Since every dollar's worth of goods bought costs the purchaser $1.02, how many dollars' worth can be bought for $102? For $204? 7. If I pay 3% commission for buying goods, how many dollars' worth of goods can be bought for $309, after paying the commission ? For $515? 8. How many dollars' worth of goods can be purchased for $630, after making allowance for the agent's commission at 5% of the value of the goods purchased? DEFINITIONS. 381. A Commission Merchant or Agent is a person who buys or sells goods, or transacts other business for another. 382. The Commission is the compensation or percentage allowed a commission merchant or agent. |